Dewan Farooque Spinning Faces Setback with Negative Earnings

Karachi, Dewan Farooque Spinning (DFSM) reported a downturn in its financial performance, with a negative earnings per share (EPS) of Rs (2.93) for the period ending June 2024. The company did not declare any distributions for the years 2022 and 2023, and its stock traded at a rate of Rs 2.98. With a paidup capital of Rs 977.51 million, DFSM experienced a significant turnover of 14,201,000 shares. Listed in 2005, the company faces challenges in the textile spinning sector, indicating a need for strategic adjustments to return to profitability.